Global demand for digital printing of packaging materials is expected to experience strong growth over the next five years, according to a recent report by Smithers Pira, a packaging consulting group. The volume of digitally printed packaging products is forecast to increase by more than 16% per year through 2020. Labels continue to be the segment’s primary product, but new digital printing applications for cartons, corrugated containers, flexible packaging, rigid plastics, and metal decorating are forecast to experience rapid growth. Other key drivers of demand include improving economic conditions and a trend toward shorter print runs, for which digital technology can be more cost-effective than traditional print and packaging techniques.
The Asia Pacific region is forecast to be the chief demand driver for folding cartons as the global market rises from $87 billion in 2014 to $106 billion by 2020, according to a recent report by Smithers Pira. Global demand is expected to increase 5% in 2015, then slow to 3.5% per year through 2020. The Asia-Pacific region’s share of global folding carton consumption is forecast to rise from 52% in 2014 to more than 60% in 2020. China’s share of world consumption is expected to increase from 31% in 2010 to 39% in 2020. The Indian sub-continent is expected to be the second-largest market, accounting for 6% of global consumption. The top folding carton end-use markets are health care products, tobacco, household care, hardware and electrical products, and dry foods. Amid pressure from brand owners that wish to differentiate their products from competitors, folding carton manufacturers will be challenged to invest in innovative new products and carton printing techniques.
Posted by Anthony Contaldo.